Federal Court orders The Star to pay a penalty of $260m

Casino operator breached Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws Australia’s Federal Court has ordered The Star Entertainment Group to pay a penalty of $260m following findings the casino operator breached Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. This follows other significant penalties and regulatory action imposed on The Star following Queensland and New South Wales casino inquiries for related regulatory failings. The Court found that The Star failed to maintain a compliant AML/CTF program and failed to monitor customers to identify, mitigate and manage money laundering and terrorism financing risks.